Press Release
JLL Income Property Trust Declares 33rd Consecutive Quarterly Dividend
March 19, 2020
JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), announced that on March 3, 2020 its Board of Directors approved a gross dividend for the first quarter of 2020 of $0.135 per share. JLL Income Property Trust has declared thirty-three consecutive quarterly dividends to its stockholders beginning with the first quarter 2012.
The dividend is payable on or around March 30, 2020 to stockholders of record as of March 25, 2020. On an annualized basis, this gross dividend is equivalent to $0.54 per share and represents a yield of approximately 4.4 percent on a NAV per share of $12.30 as of March 2, 2020. All stockholders will receive $0.135 per share less applicable share class-specific fees and the annualized yield will differ based on the share class.
A fourth quarter dividend of $0.135 per share, less applicable share class-specific fees, was paid according to the table below on February 3, 2020 to stockholders of record as of December 30, 2019.
| M-I Share | A-I Share1 | M Share2 | A Share3 | |
|---|---|---|---|---|
| Q4 Quarterly Gross Dividend per Share | $0.13500 | $0.13500 | $0.13500 | $0.13500 |
| Less: Dealer Manager Fee per Share | - | ($0.00826) | ($0.00900) | ($0.02311) |
| Q4 Quarterly Net Dividend per Share | $0.13500 | $0.12674 | $0.12600 | $0.11189 |
| NAV per Share as of December 31, 2019 | $12.25 | $12.25 | $12.24 | $12.22 |
| Annualized Net Dividend Yield Based on NAV as of December 31, 2019 | 4.4% | 4.1% | 4.1% | 3.7% |
- A dealer manager fee equal to 1/365th of 0.30% of NAV is allocated to Class A-I stockholders daily and reduces the quarterly dividend paid.
- A dealer manager fee equal to 1/365th of 0.30% of NAV is allocated to Class M stockholders daily and reduces the quarterly dividend paid.
- A dealer manager fee equal to 1/365th of 0.85% of NAV is allocated to Class A stockholders daily and reduces the quarterly dividend paid.
JLL Income Property Trust is an institutionally managed, daily NAV REIT that gives investors access to a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.
For more information on JLL Income Property Trust, please visit our website at www.jllipt.com.
Tax treatment may vary from investor to investor. You should consult your tax professional. For federal income tax purposes, REIT distributions may be classified as ordinary dividends, capital gain dividends and nontaxable distributions, each of which may be taxed at a different rate. That portion of a REIT’s distributions that are nontaxable may result in a reduction of the investor’s cost basis, which would make it subject to long or short-term capital gains tax when the investment is sold (when held in a non-qualified account).